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Whether you call a locksmith or get a new cylinder and key, you still have to deal with the resistor on the key vs. the VATs system. Do you know what resistor was on the old key? If not it may take some jury-rigging to find the right resistor value.
I lost the key to my 94. Dealer said they could give me the resistor code but for mine it was not available, they did give me the key code to make a new key. I .a locksmith come make keys for me until one worked, number 14. Price of resistor keys has come down from what they used to be just depends on how many you have to try before one works.
Dealer cost me $35 for key code to cut a key that fit the ignition.
Lock smith cost me $165 to make 14 different resistance keys.
I made the mistake and lost the key, $200 later the car wanted to start and I felt blessed to have the issue resolved. Also, I now have 4 keys.
There is more to the story as there was a third party security system installed that I was not aware of and never figured out. I left the state with my work and next day my wife called the dealer to come get the car. Took dealer 2.5 days to find and then remove the security system. She also had my hood painted, another $1800 and the car was all better.
Ever wonder why we willingly do these things to ourselves, and like it?
One more reason to always have a spare key. If you lose one and are down to a single key, have it replaced immediately! I had the dealer make one up. The total charge was about $35. Resistor keys are available online for a few dollars. I think I'll order a few and have them cut, just to be safe.